Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
This has been a difficult year for the industry with government takeovers of three regional institutions, which rank among the 10 biggest failures in U.S. history. Here is a look at what went wrong at those three banks and the seven others on this infamous list.
The 50 companies that made American Banker’s annual list are being recognized for establishing strong workplace cultures, offering robust benefits packages and giving employees the room to do their jobs well.
Demand for home purchases and car loans would need to increase substantially to make up for what's expected to be a sharp drop in refinancing revenue.
With many Americans and members of Congress questioning the results of the presidential election, financial services trade associations quickly vowed to work with the incoming administration.
Refinancing has been one of the bright spots in a difficult year for lending, and the industry has concerns that a fee to be imposed by Fannie Mae and Freddie Mac could slow down the business.
Home-renovation loans to add features such as offices and pools could be one source of lending as credit unions struggle with overall sluggish loan demand.
The outbreak has completely upended whatever expectations the industry had heading into 2020. Here's key areas that have been shaped by the pandemic, some potentially forever.
The Ohio company agreed to buy TransCounty Title Agency, which has five offices around Columbus.
Blue Lion Capital, which has been a vocal critic of the Seattle company's strategy, also wants management to consider selling its MSR portfolio.
Capitol Federal Financial has mostly relied on mortgages throughout its history. Its acquisition of a commercial lender will change that.
Mutual of Omaha Bank's purchase of Synergy One Lending will add reverse mortgages to its product line.
The Seattle company has faced criticism from an investor over its commitment to the business, which lost money in the first quarter.
Optimism that the #MeToo movement will have a positive influence is high among bankers who participated in a recent survey on sexual harassment. But there is also concern that it could lead to gender discrimination in hiring and mentoring.
BankFirst Financial Services in Columbus, Miss., has acquired HomeFirst, a mortgage services firm.
Scratch beneath the surface, and there is a lingering feeling among many in the banking, payments and mortgage sectors that not only is harassment present, but it may actually be inevitable. Experts say institutions need to combat that mindset — or else.
The Michigan company has been acquisitive lately, buying California branches and a wealth advisory firm.
The company, which bought BNC Bancorp to enter North Carolina last year, recorded $19.1 million in merger-related expenses and an $8.3 million pretax loss tied to investment securities.
The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures.
The Michigan company, which lost more than $1.4 billion in the aftermath of the financial crisis, is trying to become more of a commercial lender. Its recent agreement to buy a deposit-rich franchise in California could help it get there.
Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.